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Panda Power Raises $420 Million for Power Generation

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Panda Power Funds has announced the final close of the Panda Power Generation Infrastructure Fund with $420 million in capital commitments. Dallas-based Panda Power Funds will use the capital to finance new and existing solar energy and natural gas projects in Texas and other high-growth states. The firm secured commitments from public and corporate pension plans and other institutional investors.

According to the firm, two of the fund’s natural gas projects in Texas, in the towns of Sherman and Temple, will generate a total of 1,950 megawatts and will be among the cleanest natural gas–fueled power plants in the United States.

Nearly $94 million from the fund already has been invested in the 20-megawatt Pilesgrove Solar Farm in New Jersey, which has more than 71,000 panels